Analysts Set Scholar Rock Holding Corporation (NASDAQ:SRRK) PT at $58.77

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $66.00.

Several research analysts have weighed in on the company. Evercore restated an “outperform” rating and issued a $72.00 price target on shares of Scholar Rock in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. TD Cowen reissued a “buy” rating on shares of Scholar Rock in a report on Monday. Piper Sandler upped their target price on shares of Scholar Rock from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, HC Wainwright upped their target price on shares of Scholar Rock from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday.

Insiders Place Their Bets

In other news, Director Jeffrey S. Flier sold 3,053 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the completion of the transaction, the director owned 27,856 shares in the company, valued at $1,500,881.28. This trade represents a 9.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of Scholar Rock stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $293,430.48. Following the completion of the sale, the director directly owned 34,301 shares in the company, valued at $1,848,137.88. This trade represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors have recently added to or reduced their stakes in SRRK. Engineers Gate Manager LP increased its stake in Scholar Rock by 211.3% in the 2nd quarter. Engineers Gate Manager LP now owns 23,933 shares of the company’s stock worth $1,316,000 after acquiring an additional 16,245 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Scholar Rock during the 2nd quarter valued at approximately $99,000. Squarepoint Ops LLC boosted its position in shares of Scholar Rock by 484.5% during the 2nd quarter. Squarepoint Ops LLC now owns 291,996 shares of the company’s stock valued at $16,060,000 after acquiring an additional 242,041 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Scholar Rock by 20.1% in the second quarter. Arizona State Retirement System now owns 20,605 shares of the company’s stock valued at $1,133,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of Scholar Rock in the second quarter valued at $215,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

Shares of Scholar Rock stock opened at $49.37 on Monday. The stock’s 50-day simple moving average is $53.22 and its 200-day simple moving average is $49.62. Scholar Rock has a 52 week low of $27.07 and a 52 week high of $61.76. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of -14.31 and a beta of 0.67. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.84). During the same period in the prior year, the business posted ($0.98) earnings per share. As a group, analysts expect that Scholar Rock will post -3.23 earnings per share for the current fiscal year.

Scholar Rock Company Profile

Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.

Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.